tenaris

{{Infobox company

| name = Tenaris S.A.

| logo = Tenaris.svg

| logo_size = 200px

| type = Sociedad Anónima

| traded_as = {{ubl|{{ISE|LU0156801721|TEN}}|{{NYSE|TS}}|{{BMV|TS|6137}}|FTSE MIB}}

| industry = Oilfield services

| founded = {{start date and age|df=yes|2001|12|17}}

| location_city = Luxembourg City

| location_country = Luxembourg

| area_served = Worldwide

| key_people = {{nowrap|Paolo Rocca (Chairman and CEO)}}

| products = Steel pipes

| revenue = {{increase}} {{US$|14.868 billion|link=yes}} (2023)

| operating_income = {{increase}} US$4.3 billion (2023)

| net_income = {{increase}} US$3.918 billion (2023)

| assets = {{increase}} US$21.081 billion (2023)

| equity = {{increase}} US$16.842 billion (2023)

| num_employees = 29,134 (2023)

| owner = Techint (60.45%)

| homepage = {{URL|tenaris.com}}

| footnotes = {{cite web | url=https://www.sec.gov/ix?doc=/Archives/edgar/data/0001190723/000155485524000207/ts-20231231.htm | title=Tenaris S.A. 2023 Form 20-F Annual Report | publisher=U.S. Securities and Exchange Commission | date=May 28, 2024}}

}}

Tenaris S.A., organized in Luxembourg, is a manufacturer and supplier of steel pipes and related services for the petroleum industry. The company produces and ships over 4 million tons of pipes annually. In 2023, 53% of the company's sales were to North America, 22% of sales were to South America, 18% of sales were to the Asia-Pacific, and 7% of sales were to Europe.

The company owns 11.46% of Ternium, 3.96% of the share capital of Usiminas, and 22% of Techgen.

The company is 60.45% owned by Techint, which is controlled by San Faustin S.A., which is in turn controlled by Rocca & Partners Stichting Administratiekantoor Aandelen San Faustin, a Stichting, while 38.41% of the company is publicly-traded.

History

Tenaris traces its roots to the formation of Siderca, the sole Argentine producer of seamless steel pipe products by the predecessor of San Faustin in 1948. Tenaris was organized on December 17, 2001.

In June 2006, the company acquired Maverick Tube for $3.185 billion.{{Cite news | url=https://www.aist.org/tenaris-to-acquire-maverick-tube | title=Tenaris to Acquire Maverick Tube | work=Association for Iron and Steel Technology | date=June 14, 2006}}

In September 2006, it sold 75% of Dalmine, its Italian energy supply business, to E.ON for €39 million.{{Cite press release | url=https://www.chron.com/news/article/BW-Tenaris-to-Sell-Participation-in-Dalmine-1902866.php | title=(BW) Tenaris to Sell Participation in Dalmine Energie to E.ON | publisher=Business Wire | date=September 13, 2006}}

In 2007, the company acquired Hydril for $2.16 billion.{{Cite news | url=https://www.reuters.com/article/business/autos-transportation/tenaris-to-buy-hydril-for-216-bln-cash-idUSL12805538/ | title=Tenaris to buy Hydril for $2.16 bln cash | first=Anna | last=Driver | editor-first=Tim | editor-last=Dobbyn | work=Reuters | location=Houston, Texas | date=August 9, 2007}}{{cite news | url=https://www.latimes.com/archives/la-xpm-2007-jun-14-me-seaver14-story.html | title=Richard C. Seaver, 85; oil-drilling exec, donor to L.A. Opera | last=Nelson | first=Valerie J. | work=Los Angeles Times | date=14 June 2007 | url-access=limited}} The pressure control business was sold to GE Oil and Gas in April 2008.{{Cite news | url=https://www.reuters.com/article/markets/us/tenaris-to-sell-hydril-pressure-business-to-ge-idUSN28386760/ | title=Tenaris to sell Hydril pressure business to GE | first1=Scott | last1=Malone | first2=Ritsuko | last2=Ando | editor-first1=Maureen | editor-last1=Bavdek | editor-first2=Jeffrey | editor-last2=Benkoe | work=Reuters | location=Boston | date=January 28, 2008}}

In January 2020, the company acquired IPSCO Tubulars from OAO TMK for $1.2 billion.{{Cite news | url=https://www.aist.org/tenaris-completes-acquisition-of-ipsco-tubulars | title=Tenaris Completes Acquisition of IPSCO Tubulars | work=Association for Iron and Steel Technology | date=January 3, 2020}}

Controversies

=Bribery settlement=

In May 2011, Tenaris agreed to pay the United States Department of Justice US$8.9 million in the first ever deferred prosecution agreement with the U.S. Securities and Exchange Commission, after Tenaris voluntarily disclosed details of bribes made to officials of an Uzbek state-controlled oil firm to obtain competitor's bid information, which it used to submit revised bids in order to secure tenders.{{cite press release | url=https://www.sec.gov/news/press/2011/2011-112.htm | title=Tenaris to Pay $5.4 Million in SEC's First-Ever Deferred Prosecution Agreement | publisher=U.S. Securities and Exchange Commission | date=17 May 2011}}{{cite news |url=https://www.wsj.com/articles/BL-CCB-4442 | title=Tenaris SA Pays $8.9 Million To Settle FCPA Probe | first=Samuel | last=Rubenfeld | work=The Wall Street Journal | date=17 May 2011 | url-access=subscription}}{{Cite news | url=https://www.reuters.com/article/us-usa-justice-tenaris/tenaris-settles-u-s-bribery-probe-idUSTRE74G57L20110517/ | title=Tenaris settles U.S. Bribery probe | first1=Jonathan | last1=Stempel | first2=Anna | last2=Driver | editor-first=Tim | editor-last=Dobbyn | work=Reuters | date=17 May 2011}}

=Violence at TenarisTamsa facility=

On several occasions, melees broke out at the TenarisTamsa facility in Veracruz, Mexico, over a dispute for union leadership between Pascual Lagunes Ochoa and José Carlos Guevara Malpica ("El Profe"), a convicted felon. These melees have resulted in injuries and deaths.{{Cite news | url=https://www.laizquierdadiario.com/Enfrentamiento-por-el-sindicato-de-TAMSA-deja-dos-muertos | title=Mundo Obrero. Enfrentamiento por el sindicato de TAMSA deja dos muertos | trans-title=World Worker. Clash over TAMSA union leaves two dead | work=La Izquierda Diario | date=March 24, 2017 | language=es}}{{Cite news | url=https://www.milenio.com/estados/pascual-lagunes-ochoa-tendra-prision-domiciliaria#google_vignette | title=Dan prisión domiciliaria a líder sindical de Tenaris-Tamsa | trans-title=Tenaris-Tamsa union leader given house arrest | first=Isabel | last=Zamudio | work=Milenio | date=9 December 2018 | language=es}}